President warns political instability, not finances, risks pushing Romania towards junk
Romanian president Nicusor Dan said the main risk of the country being downgraded to non-investment grade, or “junk”, comes from political uncertainty rather than the state of public finances, as he called for a new government to be formed and said early elections could no longer be ruled out.
iulian ernst · Journalist
· 2 min read
“To be more balanced, it comes from political uncertainty, not from the financial situation. The financial situation is much better, and if we were not in a junk situation a year ago, we should not be in one now,” Dan said in an interview with Euronews Romania.
Dan has been seeking a parliamentary majority to support a new government after the previous coalition collapsed, while the country remains under an interim government. He said he wants a new prime minister to be designated before his planned visit to the United States and urged the political parties to find a formula that can secure a parliamentary vote.
On the cancellation of the 2024 presidential election, Dan said there was sufficient evidence of violations of electoral financing rules to justify the decision. He also pointed to an official position (yet not a court ruling) by the Prosecutor General’s Office and evidence of Russian interference in the electoral process.
Dan said the technical nature of the alleged interference, including the use of mirror websites and other methods, made it difficult to communicate the findings to the general public. He argued that the authorities need to make the evidence accessible to ordinary citizens without expecting them to connect highly technical pieces of information themselves.
On the controversy surrounding the Superior Council of Magistracy (CSM), Dan adopted a more cautious position, saying that he did not yet have a complete analysis of the justice system.
“I confess that I do not yet have the analysis of the entire justice system,” he said, adding that Romanian society does not need another scandal but rather discussions based on figures and arguments.
Asked about Călin Georgescu, Dan said the most serious issue was the case concerning an alleged attempt to overthrow the constitutional order. At the same time, he said that politicians were free to campaign and that some people continued to have greater confidence in Georgescu than in politicians currently represented in Parliament.
The president's comments come as he attempts to break the political deadlock and avoid a prolonged period of government instability. His emphasis on political uncertainty as the main threat to Romania’s sovereign rating also places greater pressure on the parties to support a government capable of passing Parliament and addressing the country’s fiscal challenges.
